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華泰證券:DeepSeek提振擴產預期 看好設備國產替代
華泰證券研報指出,中長期來看,DeepSeek顯著降低大模型訓練成本,且加速AI應用落地,這將驅動國產AI芯片需求持續增長帶動上游製造鏈擴產需求。建議投資者關注國內AI芯片製造鏈投資機會:1)國產AI芯片製造採用7nm及更高的先進製程,國內先進製程擴產有望加速,相關標的為中芯國際、華虹半導體;2)國產AI芯片採用CoWoS先進封裝,中國在封測環節具備較強全球競爭力,國內先進封裝有望進入起量元年,相關標的為長電科技、通富微電等;3)國內先進製程及先進封裝產能建設提速,為國產前後道設備在高端產線商業化提供良好契機,持續看好設備國產化。
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